commander shuts down the affinity business

G'Day Folks

Commander have just put out an announcement saying that they could not find a buyer for the Affinity business, so they are closing it down and retrenching a number of staff.

The announcement provides all the information in relation to the nimber of retrenchments, etc.

I wonder if this will require a further write down in goodwill. I imagine they must be carrying some goodwill for Affinty.

The announcment makes no mention of the reduction in Gross Sales, Gross Profit, etc - as a result of closing down the Affinity business.

From memory, the Affinity business had a turn-over of around $40m.

Regards

Tails